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Eni CEO: Oil Market May Break $80-100 Range in Q1 2027 If Middle East Conflict Continues

2026-07-11 12:10:59

According to Jin10 reporting remarks from Eni CEO Claudio Descalzi in an interview published by 24 Hours Sun on July 11, if Middle East conflict persists, global oil markets may break the current range of approximately $80 to $100 per barrel by the first quarter of 2027, pushing up inflation and reducing energy demand. Descalzi noted that global oil inventory has declined by an average of 3.8 million barrels daily since Iran-related disruptions emerged in late February, accelerating to 4.6 million barrels per day in May. He stated that strategic petroleum reserves have helped contain crude prices within the current range, but this strategy faces growing risks given limited global reserves.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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